Lightico , a startup based in Tel Aviv developing digital completion solutions, has successfully closed a follow-on Series B funding round by raising $15 million.
The round was led by Capital One Ventures and counted with the participation of other major firms like Poalim Capital Markets, Lool Ventures, Crescendo Venture Partners, and Mangrove Capital Partners, bringing the total funding amount raised by the company to over $42 million.
According to the startup’s press release, the funding will be used to support the rollout of Lightico’s Digital Completion Cloud, which facilitates the recollection of electronic signatures and documents, as well as the ability to perform Identity and verification (ID&V) and accept payments.
Unlike similar platforms, Lightico doesn’t require the use of an app but uses a collaboration window opened in a web browser, increasing accessibility and scalability. Adam Boutin, Partner at Capital One Ventures, referred to Lightico’s innovation by stating:
“Traditional eSign and eContracting solutions weren’t built for the millions of B2C, consumer-focused interactions that happen every day. Today, companies need to offer start-to-finish journeys that match consumer expectations, allowing them to complete everything from auto loans to insurance claims with just a few clicks on their phone. Our investment in Lightico is a result of the demonstrated value of the company’s platform, the rapidly accelerating adoption of Lightico’s Digital Completion Cloud, and its enormous market potential.”
Lightico has seen exponential growth over the past year and a half as a result of the increasing use of digital platforms amid the Covid19 pandemic, which caused companies around the globe to rely on digital signatures and documents to run their operations. Zviki Ben Ishay, CEO and Cofounder at Lightico, referred to this growth by stating:
“The growth we’ve seen over the past 18 months has been incredible and the value of enabling consumer-facing businesses to complete their journeys digitally and quickly has been proven time and again in terms of real ROI. We’re excited that Capital One continues to be part of our vision of creating effortless, efficient, and digitally complete customer journeys will become a reality.”
With turnaround time playing a major role in customer experience and the efficiency of any operation, Lightico expects to play a major role when it comes to increasing completion rates, achieving higher Net Promoter Scores (NPS), and speeding turnaround times to improve bottom-line results. Lightico.
The relevance of such solutions is only like to increase as digital platforms continue to gain importance in the everyday life of billions of people around the world.